Marchex (NASDAQ:MCHX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHX) in a research report sent to investors on Saturday. The brokerage issued a hold rating on the technology company’s stock.

Marchex Trading Up 1.0 %

Marchex stock opened at $1.99 on Friday. The firm has a 50 day moving average of $1.97 and a 200 day moving average of $1.89. The firm has a market capitalization of $86.93 million, a price-to-earnings ratio of -22.11 and a beta of 1.92. Marchex has a 12-month low of $1.11 and a 12-month high of $2.40.

Institutional Investors Weigh In On Marchex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in Marchex by 55.5% in the 4th quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after acquiring an additional 7,598 shares in the last quarter. LPL Financial LLC purchased a new stake in Marchex during the 4th quarter valued at approximately $55,000. AMH Equity Ltd purchased a new stake in Marchex during the 4th quarter valued at approximately $438,000. Finally, Geode Capital Management LLC grew its holdings in Marchex by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock valued at $630,000 after buying an additional 12,255 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Marchex Company Profile

Marchex, Inc, a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally. Its products include Marketing Edge that identifies which campaigns and channels are driving inbound conversations, evaluates what happens during those conversations, and closes the sales loop by connecting converted sales to marketing driven leads; Sonar Business Text Messaging, an artificial intelligence (AI) empowered intelligent workflow enabled mobile messaging solution that enables operations, sales, and marketing teams to communicate personally with field staff, prospects, and customers; Marchex Platform Services, a robust API-based conversation intelligence product that allows executives, sales, customer engagement, and marketing teams to apply Marchex AI to most any calls, regardless of communication platform, in order to identify actionable insights from conversations with their customers; Spotlight, an AI conversation analytics product for multi-location businesses; and Engage, a solution that provides locations with applications to enhance their overall performance.